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Nov 26, 2012
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economy and how do we get us back to that and, two, how do you solve a problem? >> second big development. a growing number of liberal democrats say they're willing to risk going off the cliff to make sure raising taxes on the wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. if i were in congress in 1841 i would have supported declaration of war against japan. i won't attack japan today. the world changed and the economic situation is different. >> i am not oblg gate on the pledge. i was just elected. the only thing i am honoring is the oath that i take when i serve when i am sworn in in january. >> chambliss already made a similar statement last week. the question is is this a real softening of positions? does it give them room to make deal. >
economy and how do we get us back to that and, two, how do you solve a problem? >> second big development. a growing number of liberal democrats say they're willing to risk going off the cliff to make sure raising taxes on the wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the...
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Nov 21, 2012
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economy expanded more than at any other time in history. but something happened because corporations are still doing really, really, really well. but the people that work for them, not so much. corporate profits measured as a percentage have hit record highs. but compensation has hit record lows. look at this chart compared to profits and compensation over the last decade. profit profits is a percentage has surged to record levels. compensation, which workers get, has declined. and these are partially the same trend. corporations threaten to go overseas, they cut costs by give less and less to workers and keep more revenue as profit. in fact, it looked like a dragon. the dragon of inequality. so how do you slay the dragon of inequality and low worker compensation? the twinkie era is not coming back. and and here's what is coming. the affordable care act. explaining what it has to do requires moving from twinkies to pizza. and i recognize there's some irony in talking about junk food, but we're going to do it any way. papa john's has been co
economy expanded more than at any other time in history. but something happened because corporations are still doing really, really, really well. but the people that work for them, not so much. corporate profits measured as a percentage have hit record highs. but compensation has hit record lows. look at this chart compared to profits and compensation over the last decade. profit profits is a percentage has surged to record levels. compensation, which workers get, has declined. and these are...
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Nov 27, 2012
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growing the economy or punishing success? >> sir, thanks for your time today, i appreciate it. >> have a great day. >> you too. >>> this leads to our big question of the day, the afl-cio calling republicans hostage takers. do you agree? are both sides standing in the way of compromise? >>> and we're going to get to the other side of the issue when i speak with bernie sanders of vermont. we are keeping our eyes on the breaking news coming to us out of cairo. i want to show you live pictures of protesters back in tahrir square today for another day of demonstrations over the egyptian president's effort to assert new powers. the protesters reminiscent of the uprising that took down hosni mubarak two years ago, and we've heard a third protester has died as a result of these protests. n. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunde
growing the economy or punishing success? >> sir, thanks for your time today, i appreciate it. >> have a great day. >> you too. >>> this leads to our big question of the day, the afl-cio calling republicans hostage takers. do you agree? are both sides standing in the way of compromise? >>> and we're going to get to the other side of the issue when i speak with bernie sanders of vermont. we are keeping our eyes on the breaking news coming to us out of cairo. i...
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Nov 26, 2012
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economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and deficits. we've got a ginormous economy. we had a huge black friday weekend. probably $600 billion for the total shopping over the holidays. the question is, as we get close and getting into december, if it looks like talks are breaking down and we have the same old lines on no tax increases for the wealthy versus no spending cuts at all on the left on social security or medicare, then you get people getting nervous. the markets get service, the markets sell off, we have a problem. if we go into january and there's the basic broad outlines of a deal that w
economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and...
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Nov 22, 2012
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that's going to be good for the economy. we'll wait to see in january whether people sort of, you know, pull back a little bit. but in general, i think it is safe to say even if christmas isn't the most efficient way to do spending, it still gets the job done. >> but the ugly part i think we'll have video on the show tomorrow that will exactly reiterate what you're saying. happy thanksgiving. >>> some americans are going to the movies after the turkey is finished. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearly indestructible laptops, and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most better. just another way we're engineering a better world for you. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're b
that's going to be good for the economy. we'll wait to see in january whether people sort of, you know, pull back a little bit. but in general, i think it is safe to say even if christmas isn't the most efficient way to do spending, it still gets the job done. >> but the ugly part i think we'll have video on the show tomorrow that will exactly reiterate what you're saying. happy thanksgiving. >>> some americans are going to the movies after the turkey is finished. is what drives...
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Nov 27, 2012
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economy is centered around consumer spending. so it's absolutely key. now, we're used to black friday spending. and that was good this year. it was up about 12.8% to 59 billion u.s. dollars. we know about cyber monday as well. when everyone goes back to work, apparently goes back to work and sneaks onto their computer and continues to spend the likes of amazon and ebay were doing very well. as indeed walmart who's had a cracking holiday season so far. what is less well known is the small business saturday. this thing's only been going about three years. in every single state, it had a real rubber stamping from authorities to try and get people spending in what is the backbone of the u.s. economy, i.e., small businesses. well, the initial surveys are very good. small business saturday has pretty much doubled from the last couple of weeks from 34% to 67%. and as you mentioned there, the spending has gone up as well. spending slightly more than people expected going into this. 5.5 billion u.s. dollars as well. so that is incredibly good news for the small
economy is centered around consumer spending. so it's absolutely key. now, we're used to black friday spending. and that was good this year. it was up about 12.8% to 59 billion u.s. dollars. we know about cyber monday as well. when everyone goes back to work, apparently goes back to work and sneaks onto their computer and continues to spend the likes of amazon and ebay were doing very well. as indeed walmart who's had a cracking holiday season so far. what is less well known is the small...
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Nov 27, 2012
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obama is focusing on the economy now to the extent he didn't focus immediately on the economy in his first term. he is focusing on the central issue and the key issue what will be the key issue of his presidency. so, he's in much stronger ground to defend his turf here than bush was in privatizing social security. >> victoria defrancesco soto and dana milbank, thank you. >>> chris christie worked with president obama on hurricane sandy and voters are loving it. so why are republicans ignoring his example? >>> we'll tell you why mr. 47% really is mr. 47%. you'll love this story. >>> plus, speaker boehner got a big surprise today. why are naked people in his office? stay with us. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults an
obama is focusing on the economy now to the extent he didn't focus immediately on the economy in his first term. he is focusing on the central issue and the key issue what will be the key issue of his presidency. so, he's in much stronger ground to defend his turf here than bush was in privatizing social security. >> victoria defrancesco soto and dana milbank, thank you. >>> chris christie worked with president obama on hurricane sandy and voters are loving it. so why are...
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Nov 28, 2012
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i will tank this nation's economy. thus wiping away tens of billions of dollars of american wealth by my own decision unless you give me what i want. because i'm the most reasonable man in washington. we can have disagreements on matters of policy. we can disagree on the tales we tell each other about how to get to the best outcomes for the country. we can even disagree about basic values about what kind of country we ought to be. but the thing you can generally assume about everybody who is in public service is that they are public servants. they want the country to be better off. no matter how you want to get there. whether or not some people think you're wrong or some people think you're dumb or misinformed, there's a general assumption that if you're involved in politics that means that what you want is a good future for america. you're out to help america, not hurt america. hurting the country on purpose when you know that's what you're doing violates the most basic thing that we think we can assume about why peop
i will tank this nation's economy. thus wiping away tens of billions of dollars of american wealth by my own decision unless you give me what i want. because i'm the most reasonable man in washington. we can have disagreements on matters of policy. we can disagree on the tales we tell each other about how to get to the best outcomes for the country. we can even disagree about basic values about what kind of country we ought to be. but the thing you can generally assume about everybody who is in...
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Nov 26, 2012
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we need fit tr economy. yes, you're right. for the working poor in this country, it's a group that's bigger than ever thanks to the big recession and needs good deals on things. but the flip side is to have these stores open on friday or thursday, you're taking other members of the working poor and taking them away from their families and saying because the store down the street is open, we've got to be open, you've got dom in, walmart, with ee going to give you bad hours the rest of the year and make you come in on thursday and friday. like you i skipped black friday and monday but small business saturday i was there. >>> up next he's one of america's favorite founding fathers but did thomas jeff eson have a dark side? the author behind a new book generating controversy joins us next. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. side by side so you get the same coverage, often for less. that's one smart board. what else does it do, reverse g
we need fit tr economy. yes, you're right. for the working poor in this country, it's a group that's bigger than ever thanks to the big recession and needs good deals on things. but the flip side is to have these stores open on friday or thursday, you're taking other members of the working poor and taking them away from their families and saying because the store down the street is open, we've got to be open, you've got dom in, walmart, with ee going to give you bad hours the rest of the year...
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Nov 23, 2012
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we know the economy is still so somewhat sluggish. when we talked to shoppers here, they say it's christmas. what are you going to do? >> i tell you, that puts to rest all of us who thought, well, maybe people don't want to show up on thanksgiving. not if you're going to walmart. courtney, thank you so much, it there in dayton, ohio, appreciate it. >>> up next, our political power panel weighs in on the tough road ahead for fiscal cliff negotiations. and still ahead, the great holiday escape. tracking the best deals and discounts for your getaways. is it better to be the early bird...or the earliest bird? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at homedepot.com, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. when the doctor told
we know the economy is still so somewhat sluggish. when we talked to shoppers here, they say it's christmas. what are you going to do? >> i tell you, that puts to rest all of us who thought, well, maybe people don't want to show up on thanksgiving. not if you're going to walmart. courtney, thank you so much, it there in dayton, ohio, appreciate it. >>> up next, our political power panel weighs in on the tough road ahead for fiscal cliff negotiations. and still ahead, the great...
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Nov 28, 2012
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then people have an incentive to buy their houses sooner rather than later and so you can give the economy an extra lift. >> that makes the housing industry very nervous and some american, too. but do you agree with what larry summers said? >> absolutely not. i don't think i've ever agreed with larry summers on anything. he was a disaster as an adviser to obama. that's crazy. the one tax break most middle-income families in this country can get unlike everything that's available to the wealthy and the spk lay or thes and everybody else is their mortgage interest deduction. i'm going to fight to keep that. >> congressman peter defazio, thank you very much. great to have you on the program. >> thank you. >> gentlemen, let me go back to this whole idea of the impact beyond the real numbers, just, you know, analysis of what it might mean financially, because there are several also pekts of going off the fiscal cliff. obviously those economic implications. but if this drags on, clarence, into the new year and beyond, could it have serious implications for the president's second-term agenda, sta
then people have an incentive to buy their houses sooner rather than later and so you can give the economy an extra lift. >> that makes the housing industry very nervous and some american, too. but do you agree with what larry summers said? >> absolutely not. i don't think i've ever agreed with larry summers on anything. he was a disaster as an adviser to obama. that's crazy. the one tax break most middle-income families in this country can get unlike everything that's available to...
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Nov 29, 2012
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for moving the economy forward. president obama, of course, said on election night that he wanted to sit down with mitt romney and do exactly that. and carney was also asked again if president obama would be offering romney any sort of cabinet position. and carney said he did not expect that to happen. i think this was in large part about optics. striking a tone of bipartisanship after what was really a grueling campaign season. helping these two former rivals to essentially move forward. also, in turn, helping the country to move forward. >> is there going to be an internal release of a picture or something like that of the two-minute lunch today? we only have that, you know, little bit of video of mitt romney arriving. >> reporter: yes. that is what we are hoping for. we're hoping for a picture. we're hoping for a few details about what specifically happened. the white house has essentially said they're not going to read out this entire lunch. we asked them for a transcript. doesn't look like we're going to get th
for moving the economy forward. president obama, of course, said on election night that he wanted to sit down with mitt romney and do exactly that. and carney was also asked again if president obama would be offering romney any sort of cabinet position. and carney said he did not expect that to happen. i think this was in large part about optics. striking a tone of bipartisanship after what was really a grueling campaign season. helping these two former rivals to essentially move forward. also,...
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Nov 22, 2012
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they were buying into fearmongering about the economy and the effects of the affordable care act. once president obama won a resounding re-election victory, they stuck to the republican script, but they saw they could potentially take a financial hit by making these threats. it's not worth the risk to the bottom line, to be so political. didn't the ceo of papa john's realize that maybe democrats eat pizza as well? joining me tonight, the political editor of the progressive magazine, ruth connif, and john nichols of "the nation" magazine. john, aren't these leaders figuring out they're going to take a hit to the bottom line, when you choose to be political like this, over their business that really has nothing to do with the politics. what do you think? >> sure. it's one of the first lessons in business school. stay out of politics, as regard to your marketing. they can certainly give contributions and they often do. but i really think what happened with the folks at papa john's and this denny's franchise was that they just fell behind the pattern here. the affordable care act has
they were buying into fearmongering about the economy and the effects of the affordable care act. once president obama won a resounding re-election victory, they stuck to the republican script, but they saw they could potentially take a financial hit by making these threats. it's not worth the risk to the bottom line, to be so political. didn't the ceo of papa john's realize that maybe democrats eat pizza as well? joining me tonight, the political editor of the progressive magazine, ruth...
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Nov 28, 2012
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on those at the top 2% and above so that we can achieve balanced deficit reduction and invest in our economy. if they chose education over tax cuts for those at the top, they chose clean energy. so these are -- that's what this election was about. it makes a difference to actually run on something. >> let's talk about the inauguration, what's going to be obviously second term inaugurations are just smaller. they just are. that's just a fact. what's the attempt to make this second inaugural seem different? what will make it stand out? >> well, you know, the ro ses has just started. we're just three weeks from the election -- >> who is running? >> the same people that were involved last time will be involved this time. lots of discussions are taking place. it will be a smaller scale, but we're just about two months out. we have a lot of work it to do 0 but the president is very much looking forward to giving that speech. >> well, the construction is already apparent all over washington. stephanie cutter, nice to see you. >> nice to see you, chuck. >> we will be checking in again, thank you. >>
on those at the top 2% and above so that we can achieve balanced deficit reduction and invest in our economy. if they chose education over tax cuts for those at the top, they chose clean energy. so these are -- that's what this election was about. it makes a difference to actually run on something. >> let's talk about the inauguration, what's going to be obviously second term inaugurations are just smaller. they just are. that's just a fact. what's the attempt to make this second...
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Nov 22, 2012
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when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this chart. the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the
when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this chart. the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the
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Nov 27, 2012
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an immediate change in spending that would have some type of immediate and cataclysmic effect on the economy. what does immediately change is december you have the bush tax rates in effect. january, you have the clinton tax rates in effect. democrats are better off negotiating from the clinton rates and then they're saying, okay, look, here are the rates, we're going to bring this down, we're going to bring this down. we're going to leave these how they are. how would you like to vote for this? are you going to oppose this? and people didn't really vote for compromise necessarily this election. they overwhelmingly elected the president, they gave the senate to democrats, and they voted for more democrats in the house. now, just because they're gerrymandered and a tea party house doesn't reflect what voters said on election day. so, you know, and as obama keeps pointing out, more people support higher taxes on the rich than even supported obama himself. so the mandate here is clear. it's for higher taxes on the rich and it's not for messing around with entitlements right now. >> ryan grim, su
an immediate change in spending that would have some type of immediate and cataclysmic effect on the economy. what does immediately change is december you have the bush tax rates in effect. january, you have the clinton tax rates in effect. democrats are better off negotiating from the clinton rates and then they're saying, okay, look, here are the rates, we're going to bring this down, we're going to bring this down. we're going to leave these how they are. how would you like to vote for this?...
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Nov 26, 2012
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in fact i'd say there's a great uncertainty that's just hanging over the entire economy because we're not confident that our guys can govern anymore. there's a lot of money on the sidelines that people are willing to invest. people like me just aren't hiring now because we're not confident they can do it. >> so i mean you've heard that. i'm sure you've heard that from business and this is one of the business leaders that's been talking to the white house and trying to get them to be more flexib flexible. what taxes do you think we're going to end up with? you've been through it round and round as you said. are we going to end up with a different capital gains tax rate? >> first of all, dave, i've had dinner with dave and multiple meetings with him. i couldn't agree more with him. and that's why, andrea, we have plenty of time to make these decisions. it's just a matter of doing it. we can do it in two or three weeks. candidly they can be made in two or three days. it's easy to put this policy into writing. i've demonstrated that with a bill. but what dave is saying is if we would just
in fact i'd say there's a great uncertainty that's just hanging over the entire economy because we're not confident that our guys can govern anymore. there's a lot of money on the sidelines that people are willing to invest. people like me just aren't hiring now because we're not confident they can do it. >> so i mean you've heard that. i'm sure you've heard that from business and this is one of the business leaders that's been talking to the white house and trying to get them to be more...
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Nov 28, 2012
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if all the tax cuts expire it's bad for the economy. the president understands he's got -- he's got -- talking about lincoln, you got radical democrats that don't want to touch entitlements or don't want to touch revenue and this president is going to have to hold both sides together. >> andrea mitchell, who knows washington, incite and out, they're saying nothing and they're saying nothing, right? >> i think there is some movement. maybe i am more optimistic, a lot are arguing you have fewer people in the middle in both parties as a result of the election and don't have democrats willing to make the concessions of on spending cuts and health care, medicare as you don't have republicans on one side, but i think -- i had bob corker on yesterday or the day before with klim clyburn yesterday and they were praise ing -- clyburn was praising what corker had to say. the president has a lot of leverage. what he said to congressman cummings, don't pack your bags. we're going to be around pore a while. i have alan simpson coming on our show. >>
if all the tax cuts expire it's bad for the economy. the president understands he's got -- he's got -- talking about lincoln, you got radical democrats that don't want to touch entitlements or don't want to touch revenue and this president is going to have to hold both sides together. >> andrea mitchell, who knows washington, incite and out, they're saying nothing and they're saying nothing, right? >> i think there is some movement. maybe i am more optimistic, a lot are arguing you...
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>> we have the economy. we'll begin there now at 4 past the hour. >> we're going to keep reading the post. go ahead. >> the markets look to rebound after stocks finished relatively flat yesterday following a new warning from the central bank about the fiscal cliff. speaking to the economic club of new york, fed chair ben bernanke urged lawmakers to reach a deal to avoid the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016
>> we have the economy. we'll begin there now at 4 past the hour. >> we're going to keep reading the post. go ahead. >> the markets look to rebound after stocks finished relatively flat yesterday following a new warning from the central bank about the fiscal cliff. speaking to the economic club of new york, fed chair ben bernanke urged lawmakers to reach a deal to avoid the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial...
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Nov 29, 2012
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that is how you get the economy to grow. we'll have less economic growth. >> if all the republicans hold firm to that position you just spelled out and significant detail. there is not going to be a deal between now and december 31st and all americans they are all going to see their tax rates going up starting january 31st. how are you going to feel about that? >> the president came forward and said when you have slow growth, less than 2% now, why would raising taxes now be a good idea? it is still a bad idea and i think while i think there is room for a prom promise, i don't think one person gets to decide where the compromise is. he ran on this notion of raising taxes on the wealthiest americans. he is probably going to hold firm on that. we'll see what happens over the next four weeks. as long as we are spending money on robots, don't raise any taxes. thank you very much. >> less us know what you think. follow us on twitter. up next, another twist in the administration's attempt to explain what happened the night four ame
that is how you get the economy to grow. we'll have less economic growth. >> if all the republicans hold firm to that position you just spelled out and significant detail. there is not going to be a deal between now and december 31st and all americans they are all going to see their tax rates going up starting january 31st. how are you going to feel about that? >> the president came forward and said when you have slow growth, less than 2% now, why would raising taxes now be a good...
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Nov 28, 2012
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we don't need to have a regulates economy. we need to give the private sector enough breathing room and make sure that we don't brush this initiative. i'm optimistic for the first time in a long time. >> what did you say? free market unregulated economy? >> that is my fantasy. i can't believe it. that we are in agreement on protecting the environment. if the people don't want it, they won't do it. anyway, tyson, thank you. dan mitchell, thank you. now let's talk about california with crashing production and a 13% top state income tax rate. no kidding. no surprise. companies are fleeing the state. but where will they end up? we are about to show you. those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequent
we don't need to have a regulates economy. we need to give the private sector enough breathing room and make sure that we don't brush this initiative. i'm optimistic for the first time in a long time. >> what did you say? free market unregulated economy? >> that is my fantasy. i can't believe it. that we are in agreement on protecting the environment. if the people don't want it, they won't do it. anyway, tyson, thank you. dan mitchell, thank you. now let's talk about california...
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to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> i'll call you at 1:00 tonight and i'll tell you john, i have the best idea i have ever had. you want to come along and
to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. sfx- "sounds of african...
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Nov 27, 2012
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. >> so with all the good news on the economy out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is down today, it should be down more bec
. >> so with all the good news on the economy out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that,...
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Nov 29, 2012
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. >> in terms of the economy, are you worried about 2013? a lot of talk about recession, particularly if we were to go off the fiscal cliff. what's your take on economic landscape in the next year? >> i think there are mixed signs out there. there is great apprehension in small business and in business at large with the prospects of tax increases or dramatic spending cuts that might trigger triggered. i think there's great anxiety. when there's anxiety, people generally don't spend money. the concern is well founded. >> and my thanks to john wattson. >>> political posturing on the fiscal cliff from leading republicans and democrats alike. >> i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. >> we have made our proposal. let them come forward with something. >> find out what senate majority leader harry reid's nevada constituents are saying about his performance. >>> also, is it time for the u.s. to join the ranks and put $1 billis to rest in favor of a $1 coin? believe it or
. >> in terms of the economy, are you worried about 2013? a lot of talk about recession, particularly if we were to go off the fiscal cliff. what's your take on economic landscape in the next year? >> i think there are mixed signs out there. there is great apprehension in small business and in business at large with the prospects of tax increases or dramatic spending cuts that might trigger triggered. i think there's great anxiety. when there's anxiety, people generally don't spend...
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Nov 28, 2012
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and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many periods with much higher tax rates, it's never made a dicky bird's difference to people's willingness to invest and that the combination of reduced spending and a few higher taxes for the wealthier people in america is the perfect answer. i just don't get a coherent argument why you can't do a bit of both. >> here's the issue, is that we have never had a period with more than 1% of the gdp in terms of tax hikes since 1969. that was the last time that happened and that put us into a recession and then we had several decades of increasing unem
and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many...
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Nov 28, 2012
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the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect
the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go...
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Nov 24, 2012
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. >> and the heart of the economy is for people i understand it. but do you really need that stuff so much? it seems to me that the retailers need need the sales. but we don't need more stuff. >> i remember very few presents that i was given. i don't really remember them, sure i loved them. i love the card. i get more of a kick reading what someone wrote than the other part. but here's a much more -- >> a sign of getting old, by the way. welcome to my world. >> so, here is a pressing question. what do you wear to bed? >> which has nothing to do with anything. >> nothing. what do you wear to bed? do you wear nothing, like some people? >> i wear my wedding ring. excuse me, that is something. >> do you wear a t-shirt and underwear, like a lot of people. >> what do you wear? >> that's what i wear. do you wear a full-on pajama outfit with pants and the top? do you wear -- >> like bobby, hello kitty pjs? >> jockey did a survey, said just under half of us preferred to wear nothing to bed. according to esquire.com, most women want their husbands to come to
. >> and the heart of the economy is for people i understand it. but do you really need that stuff so much? it seems to me that the retailers need need the sales. but we don't need more stuff. >> i remember very few presents that i was given. i don't really remember them, sure i loved them. i love the card. i get more of a kick reading what someone wrote than the other part. but here's a much more -- >> a sign of getting old, by the way. welcome to my world. >> so, here...
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Nov 27, 2012
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if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were three periods of growth or low growth during the bush years. he enlded president bush handing president obama the greatest financial hospital past of most people's living memory. the idea that show the republican economic policies have been this wonder yus success story going back the last three decades is poppycock. >> taxes are not the only policy. when he cut marginal tax rates on gains and dividends from 2002, there was four years of strong economic growth from '03 to '07. what you had was fannie mae and freddie mac making loans they shouldn't have. the federal gove
if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were...
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Nov 26, 2012
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>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and peter welch saying it might make more sense to let the fiscal cliff come. >> sandra levin says this is no time to jump off the cliff. he joins us now from capitol hill. pleasure to have you here. >> thanks for joining us. >> why are your colleagues wrong about this? >> they're not saying jump off the cliff. i think everybody wants to avoid it. they're saying, let's not have a bad deal. no, we should avoid the cliff. everybody should listen to what alan krueger said. we need to take the steps. we need to extend middle class tax cuts that would be the major component of avoiding the impact of going over the cliff. we shoul
>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and...
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Nov 29, 2012
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>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the cliff. the dow up 32 points right how it. >> we've heard some democrats made maye be willing to dive off that fiscal cliff. our next guest certainly is not following suit. find out what cuts he's willing to make. >>> another potential cost saver could be ditching the paper dollar in favor of a dollar coin. congress is considering it. could our debt literally kill the dollar bill? we'll talk about that. >>> and later on, i'll be talking exclusively to two of the nation's top ceo on how the fiscal cliff will impact their businesses. that's later on in "the closing bell." stay with us. back in a
>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the...
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Nov 25, 2012
11/12
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billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ we've got to think long term. we've got to think long term. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> you've seen them on the red carpet, fashions by oscar dde de la renta, christian lacroix. now you can stay in rooms fashioned by those designers. we talked about couture vacations. >> three famous designers have gotten their hands on hotels around the world. let's begin with sara game in italy. >> in florence. the thing is, people love their designers and what better way to really embrace that designer by staying in a hotel they have put together with all their famous touches. so they are actually based in florence s
billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ we've got to think long term. we've got to think long term. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get...
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Nov 22, 2012
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economy. >> why aren't people paying attention? >> 'cause they don't pay attention until they have to. >> whitney says it's time to start. california has a credit rating approaching junk status. it spends more money on public employee pensions than it does on the state university system. arizona is so desperate, it sold off the state capitol, supreme court building, and legislative chambers to a group of investors and now leases the buildings from their new owner. then there's new jersey. it had the highest taxes in the country, a $10 billion deficit, and a depressed economy when first-year governor chris christie took office. but after looking at the books, he decided to walk away from a long-planned and much-needed project with new york and the federal government to build a rail tunnel into manhattan. it would have helped the economy and given employment to 6,000 construction workers. lots of jobs. >> yeah. i canceled it. i mean, listen, the bottom line is, i don't have the money. and you know what? i can't pay people for those j
economy. >> why aren't people paying attention? >> 'cause they don't pay attention until they have to. >> whitney says it's time to start. california has a credit rating approaching junk status. it spends more money on public employee pensions than it does on the state university system. arizona is so desperate, it sold off the state capitol, supreme court building, and legislative chambers to a group of investors and now leases the buildings from their new owner. then there's...
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Nov 21, 2012
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but there are so many imtangi e intangibles in this economy. it's got more erratic natures than my golf swing does. with that we are trinding to find those companies that will have lasting demand for their product and are really centering those in a lot of the ag sectors, those companies that will benefit from the growth of the world population and the diminution of arable land is taking place year after year. >> i can interject on that point? then why do you think deere, the world's largest farm equipment maker -- missed today? does that not spell bad news for the agricultural sector for you? >> we've had a lot of increase in farm income. big guys have already had their move, caterpillars, the deeres. we're looking at what farmers are going to buy in the retail sector that will have an impact on the rural sector of this economy. but also looking at people like lindsay manufacturing that are in irrigation equipment, nitrogen, fertilizers, those things that are maybe a little bit below the radar that some of the big guys have already participate
but there are so many imtangi e intangibles in this economy. it's got more erratic natures than my golf swing does. with that we are trinding to find those companies that will have lasting demand for their product and are really centering those in a lot of the ag sectors, those companies that will benefit from the growth of the world population and the diminution of arable land is taking place year after year. >> i can interject on that point? then why do you think deere, the world's...
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Nov 21, 2012
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economy is getting cheaper. this big reduction is making it a little more exciting. >> it can be health care versus defense stocks. you know, one way or the other depending on the fiscal cliff. you ready to buy either of those? >> i think at this point, if you go over the fiscal cliff, those sectors will be very exciting. one area that i'm really looking at is cyclical versus defensive. i like the cyclicals. >> all right, gentlemen. thank you very much. it's the 65th anniversary for the toys for tots campaign by the m
economy is getting cheaper. this big reduction is making it a little more exciting. >> it can be health care versus defense stocks. you know, one way or the other depending on the fiscal cliff. you ready to buy either of those? >> i think at this point, if you go over the fiscal cliff, those sectors will be very exciting. one area that i'm really looking at is cyclical versus defensive. i like the cyclicals. >> all right, gentlemen. thank you very much. it's the 65th...
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Nov 28, 2012
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workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're going to raise taxes. >> here's what we said when we created social security. that we wanted a minimum in this country and guaranteed social insurance program that has been turned into a notion that somehow it's some entitlement as opposed to a guarantee of the basic common good in this country. so, no, i am not willing to connect the question of medicare, medicaid, and social security to a conversation that this nation has been delaying for too long, which is how are we all in this together? how does everybody pay their fair share? and how do we restore economic recovery by getting people back
workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're...
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Nov 27, 2012
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it doesn't seem to show an economy that is all that worried about what's like ahead for us. >> not on the consumer side. before we have seen the consumer doing well, oblivious to the cliff but measures of business sentiment declining because of the cliff. today, consumer measures continue to look pretty decent and business measures came in not too bad, pretty decent. look. durable goods up changed, we expected them to be negative and business investment up 1.7%. consumer confidence up, not too bad a number. chain store sales for the week ending saturday, including black friday. the best saturday or week ending saturday after thanksgiving that i could find back to 1990. case-shiller home prices continue their march upward. look at consumer confidence and the cliff. i want to show you the two-year chart heerz that dip you see in the middle of your screen there, that is the last debacle, the debt ceiling debacle. can't see it here yet. so you don't get excite about the numbers, give you a longer view whether it should be if these were normal times, see there off to your left, 85s, 90s, 1
it doesn't seem to show an economy that is all that worried about what's like ahead for us. >> not on the consumer side. before we have seen the consumer doing well, oblivious to the cliff but measures of business sentiment declining because of the cliff. today, consumer measures continue to look pretty decent and business measures came in not too bad, pretty decent. look. durable goods up changed, we expected them to be negative and business investment up 1.7%. consumer confidence up,...
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Nov 28, 2012
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>> remember the first one is the economy, don't mistake the economy -- the economy is more like a cat than a washing machine. the second rule is small is beautiful because it is less fragile. decentralize that small. third rule is skin in a game to make sure that nobody's antifragile at the expense of others. and a fourth rule -- i mean i have like six or seven rules. let me pick one at random -- a good rule is that -- >> by antifragile. >> no. very important rule is to make sure that bailouts help individuals, not companies. in fact we have the exact opposite. we're going to have social unrest if it continues. >> that is a great place to leave it. it is a very interesting and thought provoking book. nice to have you back with us. >> thanks for inviting me. >> pleasure to have you. "antifragile." and i think it is going to be a best seller, ty. >> thank you very much, sue. >>> congressional leaders meeting with america's ceos at this hour to discuss solving our fiscal mess. they're going to hold a press conference shortly and we will take it live. >>> before that though, we're going t
>> remember the first one is the economy, don't mistake the economy -- the economy is more like a cat than a washing machine. the second rule is small is beautiful because it is less fragile. decentralize that small. third rule is skin in a game to make sure that nobody's antifragile at the expense of others. and a fourth rule -- i mean i have like six or seven rules. let me pick one at random -- a good rule is that -- >> by antifragile. >> no. very important rule is to make...
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Nov 28, 2012
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manufacturing however weakened or in some cases even contracted so that dual track economy of the economy doing okay but the manufacturing sector not is a theme in this report. slice gains in residential and commercial real estate. tight inventories out there for housing. demand was higher for mortgages and auto loans and credit quality overall appeared to improve. small business loan was weaker to only moderately higher. that sector continues to be troubled. there were moderate gains in hiring with employment up in half of the 12 districts. wage and price pressure was subdude. let me get specific about the effects of hurricane sandy from the beige book. they found freight shipments were disrupted as far away as cleveland with a cloud hanging over jersey shore tourism. atlantic city casinos were mentioned specifically in there. there was concern over rebuilding the shore community and the speed with which they will be built. concern over shortages of construction equipment and rising insurance prices. finally the effects were also -- the philly said that the storm accelerated already exis
manufacturing however weakened or in some cases even contracted so that dual track economy of the economy doing okay but the manufacturing sector not is a theme in this report. slice gains in residential and commercial real estate. tight inventories out there for housing. demand was higher for mortgages and auto loans and credit quality overall appeared to improve. small business loan was weaker to only moderately higher. that sector continues to be troubled. there were moderate gains in hiring...
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Nov 28, 2012
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that kind of agreement would be good for our businesses, good for our economy, it would be good for our children's future. i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but the place where we already have, in theory at least, complete agreement right now, is on middle-class taxes. as i've said before, we have two choices. if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year, starting january 1st, every family in america will see their taxes go up. are a typical middle-class family of four would so its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle-class families can't afford that. by the way, businesses can't afford it, either. yesterday i sat down with small business owners who stressed this point, that economists predic
that kind of agreement would be good for our businesses, good for our economy, it would be good for our children's future. i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but the place where we already have, in theory at least, complete agreement right now, is on middle-class taxes. as i've said before, we have two choices. if congress does nothing, every family in america will see their taxes...
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Nov 25, 2012
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a series of tax increases and spending cuts next year that could do serious damage to the economy. they also sounded warnings. >> we can and must get an agreement. otherwise i think first of all the markets are going to start reacting. >> it's not a done deal and not a certainty. if congress does nothing, which congress has gotten pretty good at doing these days, we'll go over the fiscal cliff. >> reporter: staffers have been working behind the scenes to find common ground to prevent across-the-board cuts lawmakers say should concern everyone. >> i think you should be worried if you have a fence job we all ought to be worried whether we are dependent upon other aspects of the federal budget, whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported. >> reporter: a key sticking point is what to do about taxes. democrats and the president want to raise tax rates for the wealthy. republicans don't. the war now breaking with anti-tax crusader grover norquist who had gotten a major
a series of tax increases and spending cuts next year that could do serious damage to the economy. they also sounded warnings. >> we can and must get an agreement. otherwise i think first of all the markets are going to start reacting. >> it's not a done deal and not a certainty. if congress does nothing, which congress has gotten pretty good at doing these days, we'll go over the fiscal cliff. >> reporter: staffers have been working behind the scenes to find common ground to...
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Nov 26, 2012
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we do a lot of home delivery for online retailers so we see the economy sort of -- on both sides. we look backwards and we look forwards. and we're seeing strong growth especially in that capital equipment, heavy manufacturing which has always been good in this region. it is growing really well. >> that's great to hear. richard phillips, great to meet you. stay for the game. we cannot, unfortunately. there you go, plandy. he didn't say he was in the 2% but he's a successful guy and he said i will gladly pay higher taxes. little sign of compromise. >> that's what it will get us to the finish line. >>> coming up next, warren buffett once again pushing for higher taxes on him and his uber rich friends. but do the rich really pay less than the middle class? we're going to break all the numbers down for you coming up next. don't go away. >>> in 1930, pat's king of steaks invented what's now known as the cheesesteak in the 1960s. gino's rolled in. "street signs" rolling at you from the corner of epic deliciousness. [ male announcer ] this is steve. he loves risk. but whether he's climbi
we do a lot of home delivery for online retailers so we see the economy sort of -- on both sides. we look backwards and we look forwards. and we're seeing strong growth especially in that capital equipment, heavy manufacturing which has always been good in this region. it is growing really well. >> that's great to hear. richard phillips, great to meet you. stay for the game. we cannot, unfortunately. there you go, plandy. he didn't say he was in the 2% but he's a successful guy and he...
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Nov 21, 2012
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. >> unless in today's economy you're all living together. how about you, have you ever dated someone and not got along with the family? >> i'm the same way, families like me. but that's right, don't have to spend a lot of time with them. >> here's a question along the same lines. how long do you think a girl should wait before she introduces a guy to her family, how many dates, a month in? >> i hope it's immediate, let's go to the family first. >> how long so you're not scared off? >> i think it should be a couple of months. just enough so you know this is going somewhere. >> that really is a statement. >> yeah, don't make it an event, you know, kind of just all of a sudden your sister shows up and meets the guy. maybe one day your mom just happens to be at the same coffee shop that you're at and you run into each other. when you do the whole, i want you to meet my family, he's going to run. >> for a long weekend in nantucket. >> i had a point in my life where everybody met my family because i was living in my mother's basement. >> you were
. >> unless in today's economy you're all living together. how about you, have you ever dated someone and not got along with the family? >> i'm the same way, families like me. but that's right, don't have to spend a lot of time with them. >> here's a question along the same lines. how long do you think a girl should wait before she introduces a guy to her family, how many dates, a month in? >> i hope it's immediate, let's go to the family first. >> how long so...
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Nov 29, 2012
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roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. [ female announcer ] nature valley granola bars, rich dark chocolate, toasted oats. perfect combinations of nature's delicious ingredients, from nature valley. ♪ nature valley granola bars, nature at its most delicious. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. hurry in and try five succulent entrees, like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. sfx- "sounds of african drum and flute" look who's b
roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. [ female announcer ] nature valley granola bars, rich dark chocolate, toasted oats. perfect combinations of nature's delicious ingredients, from nature valley....
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Nov 29, 2012
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>> i think it's a thesis that goes beyond the developed economies. i think it goes into the emerging markets themselves. uk company. latin america, great company doing well. 52 week high today. >> murph, a trade? >> you have to be careful with the travel companies. expedia, pricelines. these things up 700%, 600%, you wouldn't want to chase those. gun stocks, there could be more room there. >> it's been a wild ride for gold. metal rebounding from yesterday's big selloff. its biggest drop in a month. with the fiscal cliff looming, is there a play to be made? commodities ding dennis gartman of the gartman letter joins us on the fast line. good to have you on. >> always good to be here, judge. >> what are the implications of the fiscal cliff to gold? trying to figure out what even caused this $30 move we saw yesterday. >> two questions. i'm not sure the fiscal cliff is terribly important when it comes to the gold market. i think what's far more important is the advent of continued expansion of the reserves by the fed. by the bank of -- by the ecb. and, p
>> i think it's a thesis that goes beyond the developed economies. i think it goes into the emerging markets themselves. uk company. latin america, great company doing well. 52 week high today. >> murph, a trade? >> you have to be careful with the travel companies. expedia, pricelines. these things up 700%, 600%, you wouldn't want to chase those. gun stocks, there could be more room there. >> it's been a wild ride for gold. metal rebounding from yesterday's big selloff....
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Nov 27, 2012
11/12
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it's going to be maybe a tough economy. maybe they telling us this is the best -- and wouldn't you rather have it than blow it on some junky mna deal or hire when it would be a bad time to hire? >> about half of the returns from stocks since 1926 have come from dividends. it's not an insignificant part of the total return over a long period of time. listen, i don't know if companies are really fooling people anyway. if you have all the cash sitting on your balance sheet that's earning zero, that's not a particularly efficient use of the cash either. as a shareholder, i'd rather have the money. >> it's better than them doing something foolish with the money. if a company like apple were to announce a special dividend, i'd rather see them buy back the shares as a signal that stock is undervalued than return the capital back to me. >> there you are. that was a good discussion. appreciate that very much. always good to see you both. we'll take a break. when we come back, winter is coming and so is the fiscal cliff. there i said
it's going to be maybe a tough economy. maybe they telling us this is the best -- and wouldn't you rather have it than blow it on some junky mna deal or hire when it would be a bad time to hire? >> about half of the returns from stocks since 1926 have come from dividends. it's not an insignificant part of the total return over a long period of time. listen, i don't know if companies are really fooling people anyway. if you have all the cash sitting on your balance sheet that's earning...
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Nov 26, 2012
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it is sort of a minor problem in the grand scheme of the economy. it is really about .1% of the taxpayers and it's maybe $5 billion to $10 billion a year. relative to a $1 trillion deficit -- not saying it's nothing, but it's just such a tiny amount -- >> people at his income level are paying that. >> i have to say, if we're going to have a big tax debate, let's have one that really matters, now about this warren buffett rule which won't raise enough revenue to make a dime's worth of difference whether it comes to the federal budget. let's figure out what do we want to use our tax code for and what do we have to change to make it do that. >> let's move on to the next one which would put you in -- give you a real tax problem here. the powerball jackpot set for a record $425 million this wednesday. no winner over the weekend. what would you do with a half billion that came as a windfall to you? >> first thing i'd do, i'd give everybody i know a lot of money and say don't come back again. here you go. i'm going to seed all your brilliant ideas but that
it is sort of a minor problem in the grand scheme of the economy. it is really about .1% of the taxpayers and it's maybe $5 billion to $10 billion a year. relative to a $1 trillion deficit -- not saying it's nothing, but it's just such a tiny amount -- >> people at his income level are paying that. >> i have to say, if we're going to have a big tax debate, let's have one that really matters, now about this warren buffett rule which won't raise enough revenue to make a dime's worth...
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Nov 29, 2012
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that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it would be hard on high income people with very large houses. but we have just built too many too many large houses, you would have to phase it out. but i think that would be a good solution. >> on the subject of tax reform, i know in simpson-bowles there was a proposal to lower corporate taxes, do you think that is still a possibility if in fact we still move to additional tax reform in 2013? >> i do. i think that broadening the base of the income tax, the corporate income tax is also a good idea. getting rid of a lot of special provisions that riddle the tax and
that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it...
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Nov 28, 2012
11/12
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the markets are going down, economy is going down. of therefore i think they will start to have pressure on them. the president, as he sounded today, doesn't sound like he wants to really negotiate. he won. he wants the taxes on everybody over 250 to go up, the rate to go up. he has a pen ready to sign it. unless the markets put pressure on him he will not come off of that. that's why i think we'll have to watch for the markets to tell us what happens next. ashley: jim, we've seen a rush to issue special dividends from a number of companies trying to beat the higher tax rates or threat of higher tax rates. but you say all of this comes with a risk. what is that? >> yeah. it is perfectly reasonable for all these companies to do this. all we know, is being at thats are going to be at a certain level for five more weeks. we don't know what will happen after that. most likely they go up. the money they're issuing in special dividends is worth more to give it to shareholders than after january 1st. the risk is, if after january 1st and eco
the markets are going down, economy is going down. of therefore i think they will start to have pressure on them. the president, as he sounded today, doesn't sound like he wants to really negotiate. he won. he wants the taxes on everybody over 250 to go up, the rate to go up. he has a pen ready to sign it. unless the markets put pressure on him he will not come off of that. that's why i think we'll have to watch for the markets to tell us what happens next. ashley: jim, we've seen a rush to...
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Nov 29, 2012
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economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government spending at the federal side. also you had inventories go up. what you didn't have is -- we marked down consumer spending and business spending was negative. i want to do 3%, 3.5%, 4% with strong consumer spending and strong business spending. those will be a sustainable path for the economy. >> can't let you go without a little fed speak. mr. dudley, new york fed chief, speaking this morning. >> some important comments. hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've bee
economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government...